Japanese Exchange Bitflyer Aiming to Tap More Talent from Wall Street

Bitflyer wants to add about 300 employees by end of this year. The company is eyeing bankers and experts from Wall Street to fill various positions even as it seeks to expand to other countries this year.

Bitflyer is eying traders and bankers from Wall Street as employees as it seeks to add 300 employees before the end of this year. This is even as the exchange, which now has 2 million users and operating in three regions around the world, seeks to expand in more countries.

The company employees doubled to more than 150 people in the past six months.

CEO Yuzo Kano said that the exchange needed to “grow headcount”. in order to achieve its target of being number one in the world. He added that “those with the best skills come from global banks.”

The company tweeted this week that it is “actively”recruiting talents in “many occupations”. It has said that coders who have “a high school — or even middle school — education”. Thus can make $100,000 if they have a “record of success at hackathons or coding tournaments”. The company said many of its employees earn $200,000 a year. Full time employees also receive stock options they can withdraw at any time.

According to Kano, those who worked in the banking field are more fit for crypto markets. As they already understand how to operate in regulated markets. However fits are either experienced bankers in their 40s tired of corporate bureaucracy or younger associates in their 20s.

The cryptocurrency is one among the 16 crypto exchanges approved by the Financial Services Agency (FSA). It currently operates in Japan, the US, and Europe and plans to expand in “Africa, South America, Australia and other parts of Asia.

This comes even as there were reports of many crypto businesses and companies. Thus, including other exchanges — hiring more people from Wall Street.

Head of recruiting firm Divine Solutions Japan said that finance members can fill many areas in cryptocurrencies. Also, including business development, sales, account management, operations, and compliance.

What is your take on crypto companies hiring from Wall Street? Will it help?

David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.